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Egypt, Hungary ministers sign MoUs on Economic,Technical cooperation.

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Egypt

Egypt’s ministers of investment and international cooperation, transport, agriculture, communications and information technology, and youth and sports held a meeting in Cairo with the Hungarian Minister of State for Parliamentary Affairs Levente Magyar on Thursday, during the third session of the Hungarian-Egyptian Joint Committee on Economic, Scientific and Technical Cooperation.

The two sides signed MoUs in several fields in an effort to strengthen cooperation in the near future.

Investment Minister Sahar Nasr and Magyar signed the protocol of the third session of the Egyptian-Hungarian Joint Committee and a MoU in the field of investment, aimed at enhancing bilateral investment and exchanging information on investment initiatives.

Each of the ministers of agriculture, information technology, and sports signed a MoU in their fields with the Hungarian minister.

The Executive Director of the Egyptian Accreditation Council (EGAC) Hany al-Desouky signed as well with his Hungarian counterpart a MoU on accreditation.

Magyar praised the economic reforms carried out in Egypt and expressed keenness to develop relations with Egypt in various fields.

Also present in the meeting were Transport Minister Hisham Arafat, Agriculture Minister Ezz Eddin Abostait, Communications Minister Amr Talaat , Sports and Youth Minister Ashraf Sobhy, and representatives of the Economic Authority of the Suez Canal, along with Nasr and Magyar

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Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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